NN Inc. (NNBR) Shares Gap Up to $17.57
NN Inc. (NASDAQ:NNBR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $17.42, but opened at $17.57. NN shares last traded at $18.12, with a volume of 76,420 shares trading hands.
NNBR has been the subject of several recent research reports. TheStreet upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, William Blair reaffirmed a “market perform” rating and set a $15.00 price target (down from $18.00) on shares of NN in a research note on Friday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. NN presently has an average rating of “Hold” and an average target price of $15.50.
The stock’s market cap is $467.91 million. The stock has a 50 day moving average of $16.16 and a 200-day moving average of $14.90.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. During the same period in the prior year, the company posted $0.37 earnings per share. The business earned $214.30 million during the quarter, compared to the consensus estimate of $223.14 million. The firm’s revenue was up 30.0% compared to the same quarter last year. Equities analysts predict that NN Inc. will post $1.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.62%.
In related news, Director Steven T. Warshaw sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $19.02, for a total value of $47,550.00. Following the completion of the transaction, the director now directly owns 46,100 shares in the company, valued at $876,822. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A hedge fund recently raised its stake in NN stock. New York State Common Retirement Fund boosted its position in shares of NN Inc. (NASDAQ:NNBR) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,853 shares of the company’s stock after buying an additional 34,353 shares during the period. New York State Common Retirement Fund owned approximately 0.55% of NN worth $2,341,000 at the end of the most recent reporting period.
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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